US pay TV providers suffer major subscriber loss

A study conducted by the research outfit Leichtman Research Group revealed major pay TV providers in the US suffered a loss of over 2 million net video subscribers in the first quarter 2023.

Leichtman Research Group specialises in research and analysis on the broadband, media and entertainment industries. It combines ongoing consumer research studies with industry tracking and analysis, to provide companies with an understanding of current market conditions, and the adoption and impact of new products and services.

According to the group’s findings, some of the country’s largest pay-TV providers that represent approximately 96% of the market lost about 2,215,000 net video subscribers in 1Q 2023. In comparison to a pro forma net loss of about 1,850,000 in 1Q 2022.

Other traditional pay-TV services had a net loss of about 760,000 subscribers in 1Q 2023, compared to a loss of about 625,000 subscribers in 1Q 2022.

The top pay-TV providers now account for about 73.7 million subscribers, with the top seven cable companies having about 36.8 million video subscribers and other traditional pay-TV services having 23.4 million subscribers.

“Pay-TV net losses of about 2.2 million in 1Q 2023 were more than in any previous quarter,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group, Inc.  “Similar to recent quarters, the record net losses appear to be as much a function of a slowdown in new connects as an increase in disconnects.”